If you're looking for the cheapest netbook you can find let me just say that you'll sacrifice performance and features that will benefit your computer needs long term. First let me address RAM (random access memory). RAM is basically a temporary work space the computer uses to do its work. Not having enough RAM means the computer has to take more time to process because it runs out of memory storage as it works. Many netbooks have 1GB of RAM, but 1GB just isn't cutting it these days as memory demands increase. I highly suggest at least 2 GB of RAM especially if you want to keep your netbook for more than 2 years. The cheapest netbook you'll find will probably only have 1 GB of RAM.
The cheapest netbook you'll find will probably have around 160 GB of hard drive space. This is not bad, however for peace of mind and to save frustration of hard drive space down the road I suggest getting one that has at least 250 GB. This assures you that you'll keep up with technology for much of the life of your netbook and you may not ever need to purchase a separate external hard drive which can be pricey.
The cheapest netbook you'll find probably will have a short battery life. There's a good chance the battery life will only be about 6 hours. You really want to shoot for a netbook that gives you at least 8 hours of battery life. After all, one of the main purposes of a netbook is the ability to use it while you're out and about and usually there is no electrical outlet around.
I highly suggest if you're in the market for the cheapest netbook that you consider spending a little more (around fifty to a hundred dollars more) so you are rest assured that your computer will be able to keep up with the demands of technology.